An employee’s change in employment status may result in changes in benefits eligibility, coverage, and premium costs.
Examples of a change of employment status include:
- a change from a non-benefits eligible appointment to a benefits eligible appointment
- part-time (below 50%) to full-time (50% or above) employment change
(For guidance on other types of employment changes, see Leaving MIT or Spouse or Partner Job Loss.)
Eligibility Information
To be eligible for MIT's benefits you must
- be an employee who is paid by MIT
- work 50% or more of the normal full-time work schedule and
- have an eligible appointment.
Visitors: If you are categorized as a visitor, you are not eligible for life insurance, retirement pension plans, long-term care, long-term disability, travel accident insurance, tuition assistance, children's scholarship plan, educational loan plan, home and auto insurance discounts, backup childcare/adult care, or the childcare scholarship program.
See more information on MIT benefits eligibility.
Benefits to Review
Here are a few things to keep in mind, including benefits that might be affected and the timeframe for making changes.
Health, dental, and vision plans
If you were not covered under an MIT health plan because you did not previously meet eligibility requirements, you can enroll in one of MIT's health plans within 31 days of the date of your appointment change.
Flexible spending accounts
You may enroll in the MIT Dependent Care FSA or MIT Health Care FSA within 31 days of the date of your appointment change. Domestic Partners are not eligible for this benefit.
Life insurance
MIT provides the Basic Life Insurance Plan to all eligible employees with coverage up to $50,000. Enrollment is automatic, and MIT pays the full cost of Basic Life Insurance.
You can supplement your Basic Life Insurance coverage by enrolling in the MIT Optional Life Insurance plans that provide additional protection for you, your spouse or domestic partner, children.
Retirement benefits
MIT 401(k)
The MIT Supplemental 401(k) Plan (referred to as the 401(k) Plan) helps eligible employees save and invest for retirement while receiving certain tax advantages.
MIT will match up to 5% of your pay in contributions to the 401(k) Plan.
You choose how your contributions — and MIT's matching contributions — are invested. Administrative and recordkeeping services for the 401(k) Plan are provided by Fidelity Investments.
MIT Basic Retirement Plan
The MIT Pension Plan, also known as the Basic Retirement Plan, provides a basic retirement benefit that will be paid to you upon your retirement as a monthly income for the rest of your life.
Enrollment is automatic, and you do not contribute. MIT pays the full cost of the Pension Plan.
What Else You Should Know
- Change your tax withholding rate at any time on Atlas.
- As a newly eligible participant in the MIT pension, 401(k), and life insurance plans it is important to officially designate your beneficiaries.
- If you do not meet the timeline described above for modifying your benefits, you will have to wait until the next annual Open Enrollment period to do so.
- Besides our best-in-class health plans and pension plan, we offer fully subsidized T passes, tuition assistance, career development workshops and counseling, a wide range of parenting benefits, and more. Learn more.
Why the period for making changes is limited
Most of the benefit plans offered through MIT are paid with pre-tax dollars. In exchange for the tax advantage, you legally cannot enroll in, cancel, or make changes to your health, dental, or reimbursement account plans outside of the annual Open Enrollment period, unless you experience a qualifying change in your life like the one described above.
MIT's policy for allowing changes outside Open Enrollment in the case of certain qualifying life events is consistent with the federal Department of Labor guidelines under the Health Insurance Portability and Accountability Act of 1996 (HIPAA).